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can't use it as effectively. >> will we see an e-commerce capability on twitter? >> i think we do see lots of commerce take place every day on twitter. it's particularly interesting in areas with things like perishable inventory like tickets. the game or show starts in x hours. if we don't sell the tickets there is nothing we can do with them. we are paying attention to that and are thinking about ways to participate in the value exchange. we'll see what happens. >> what's your biggest challenge from a revenue perspective? >> our biggest advertising challenge is making sure our revenue reflects is percentage of users that exist -- that use twitter in various countries. we have users all over the world. the user base is growing globally fast. we need to expand our advertising platform globally beyond just a couple countries we are in now. >> you can watch the entire interview including his answers to questions that were tweeted in by our viewers on mediamoney.cnbc.com. >> before we let you go, you talked to him about a myriad of things certainly. you asked whether he was going to go pu
of regulations, many more could follow. business groups like chairman ber of commerce are try -- chamber of commerce are trying to warn voters about it, is it trtoo late, after this. americans are always ready to work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ so let's talk about coverage. based on this chart, who would you choose ? wow. you guys take a minute. zon, hands down. i'm going to show you guys another chart. pretty obvious. i don't think color matters. pretty obvious. what'sretty obvious about it ? that verizon has the coverage. verin. verizon. we're going to go to another chart. it doesn't really matter how you present it. it doesn't matter how you present it. verizon. more 4g lte coverage than all other networks combined. >> he in
business. here's the latest. >> that's right. facebook is making its first move into e-commerce. facebook gifts for the first time allows users to buy its first real products on the service, allowing users to buy gifts. facebook gives users the ability to take advantage of millions of users' birthday wishes. users can send gifts privately or publicly, and people receiving gifts can unwrap a virtual preview and open the real gift in person a few days later. this is designed to be easy, make it easy for users to spend money. users can pay right away or add payment details later. facebook does take a cut of all transactions. investors have been on lookout for facebook's crucial move into the revenue stream since the company acquired a mobile gifting app called karma back in may. the fact this is a native mobile appoints to the fact facebook is looking for new ways to make money from its growing mobile user base. though this is a test, maria, once people start inputting their credit cards into facebook, the potential for social commerce seems huge. back over to you. >> thank you, julia. resea
-owned businesses in india. india's commerce department says the move will help with the slowing economy there. the markets are soaring in america. shows you what a little stimulus can do. if only it was as easy to stimulate the economy of the eurozone. but maybe all that bond-buying is doing some good. that was talked about in a 2-day meeting in cyprus that began friday. let's talk with greg hadley. he's president of the bull & bear institute. in regard to what's been going on in europe, are you bullish or bearish? > > you know what, i'm a little bit of both. if you look at it, the ecb, by buying up the short-term notes of basically the pigs, greece- > > that's a key point, though: they're buying the short-term notes. > > it's the short-term notes, which really has been the problem for these countries, is how do they get the short-term financing to continue their governments? they are looking at it, and basically this is a short-term fix on a long-term problem. the structural problems in the eurozone will continue to exist. in fact, right now greece is asking whether or not they should renego
like chairman ber of commerce are try -- chamber o >> he indicated he wants to raise taxes could raising taxes on a small business, that will kill jobs, the president is pore owing borrowing a trillion dolls more we take every year, a pathway that looks more european than american, many are drawn to, i think they are wrong, they do not recognize it is not good for america at large, 100% of americans in my view will do much better if we live by a government established by founding fathers, one based upon freed am anfreedom and opportun. neil: charlie -- charlie gasparino on the phone with me, saying that is not just all obama all the time. charlie, explain that. why do you think that the supposition he lost half of the country is wrong. >> break down who is in that 47%, a lot of people to believe that big government is the way to go. maybe economically say subsift on welfare. but a lot of people in that 47% are people that want to preserve their paycheck that excuse mes from government pensions, cop, firemen, other retirees, they understand that the enormous growth of the welfare
size companies. to the local chambers of commerce as opposed to u.s., there is a cleaving underway. neil: what does that mean? >> we've been friends and have these conversations we come down to a conclusion that only thing that is good for the country is a vibrant middle class, the multinational corporations did not fully represent that vibrant middle class. neil: is that a fair rap? >> sure, where has job offshoring come from? the multinationals not the sme's. neil: you think this president, what he is doing is the right direction? >> i think the alternative to bainize this economy, which is what governor romney would have us do. neil: what is wrong with that? >> you can't fix that unemployment conundrum. neil: and the government can. >> we have reached a tipping point. no matter who is in charge will not be able to fix the structural breakage in this economy. there is an appropriate partnership, we may give or terms and specifics but no beard with a thoughtful mind could say that private sector alone would lift this economy back to where it belongs, there are certain government a
, transnational crime and terrorism, enhancing commerce between nations and dealing with climate change. it requires courage and leadership to take the first step to a mutual understanding. i've been particularly impressed recently with juan manuel santos, the president of colombia, as he reaches out to two of his neighbors to restore diplomatic relations. .. against the people of cuba and that we display no interest in furthering or improving diplomatic relations. all us should continue to press the cuban government but the embargo undermines any credibility that my country has in calling for improvements in cuba. and i fear our democracy-aid program is aimed at regime change and does not promote democracy. unfortunately, the program is used by some in cuba to justify cuban-american gross who i know might believe to be innocent and keep him in prison. a more sincere diagnose should be held with -- the main reason that united states keeps cuba on the list is that because the et a have officers in cuba, but when i was last in havana, the columbian and the spanish told me that having them
chamber of commerce. seven years ago we talked about transportation, and right outside this building there wasn't a rail to dulles being built. i was very proud to work on those with you in my time as governor. we talked about education. during my time as governor, we put in place the largest bond package to expand our higher ed institutions in the history of the commonwealth, and now there's significant construction at both george mason and the northern virginia community college campuses and expanded preconsidered -- prekindergarten. we landed marquee companies hilton, volkswagen of north america, northrup gum monday announced they were coming to the neighborhood. we also won accolades as the best state for business every year of my four years as governor. i'm proud of those accomplishments, i'm proud that we did them together. but i'm especially proud that we did 'em in the midst of the worst e are session -- recession since the 1930s. today we're here because we have a senate to be fixed. we've got to fix congress to end gridlock that's blocking progress to important goals. we ha
. the new model is to allow a controlled space for free commerce, for open education, even for dissent. perhaps people in these countries can use that space to slowly expand the realm of freedom and liberty. we'll be right back. >>> all the traditional stem fields, the science, technology, engineering, and math field are stoked when you dream big in an agency such as nasa. and it's not that much money. right now it's a half a penny on your tax dollar. i say double it to a penny. what do you got? restrained driver in a motor vehicle. sir, can you hear me? two, three. just hold the bag. we need a portable x-ray, please! [ nurse ] i'm a nurse. i believe in the power of science and medicine. but i'm also human. and i believe in stacking the deck. [ female announcer ] to nurses everywhere, thank you, from johnson & johnson. [ female announcer ] to nurses everywhere, one is for a clean, wedomestic energy future that puts us in control. our abundant natural gas is already saving us money, producing cleaner electricity, putting us to work here in america and supporting wind and solar. though a
commerce secretary and romney supporter, carlos gutierrez and also the founder of carmax, austin ligon. >> i want to play you something that elizabeth warren now a candidate for the u.s. senate said at the convention. >> the system is rigged. look around. oil companies guzzle down billions in profits. billionaires pay a lower tax rate than their secretaries and wall street's ceos, the same ones who wrecked our economy and destroyed millions of jobs still strut around congress with no shame demanding favors and acting like we should thank them. >> let me start with you. do you understand why businesses think that the obama administration has been anti-business. >> well, you have to differentiate between wall street and businesses. wall street is concerned that we put regulation back in place, and they caused essentially the financial collapse and we don't have a regulatory system to solve that yet. in enormous numbers the finance industry has been against the president this time, because it is in their interest. broader business is much more evenly spread, and -- >> and yet we hear all
, i have a sou soundbyte from the chamber of commerce about this. >> the rich are not getting richer. the tax measures that have been implemented over the last three years have hit all social classes, including the upper to middle class here in greece. we've seen property taxes that have been increased immensely. business taxation, unfortunately, is running at the moment at approximately 50% when you add the business tax, the dividend tax, including all the extraordinary taxation measures that have been implemented over the last two and a half years. so there isn't so much inequality as far as that side is concerned. >> yeah. and, you know, when we talk about greece, which is, you know, really a small part of the european union in a financial sense, tomorrow the spanish are handing down their budget. spain is a huge deal. they are at the epicenter of european financial crisis. you know, if they need money, you know, this is the contagion that could condition. >> it all has -- eventually it spills over to the united states and the financial impact here. michael, thank you very much. a
creation. norelco held near two-year highs. according to the commerce department, sales fell to a seasonally-adjusted annual rate of 373,000 which was below what economists were looking for, meanwhile, home prices jumped to their highest levels in more than five years. and greece's international lenders are at odds over how to solve the country's debt crisis. the imf has been pushing to restructure greek's debt owed to foreign creditors. e.u. leaders prefer to give greece more time to meet bailout goals. well, here we are at 30 minutes to go, actually, 20 minute toss go. of let's get a check on the markets with nicole petallides at the new york stock exchange. you've got one of today's top s&p 500 movers. what do you have? >> reporter: oh, yeah. taking a look at dean foods, right? i pulled it up nice and big for us. it's up a full five percentage points right now. dean foods clearly a winner on the s&p 500, and why is that? because they are confirming that they are scoring a potential sale of their morningstar dairy operations. as a result, you see that being a winner. a lot
of navigation occurs through that very critical strait. it is well-known the amount of trade and commerce that goes through there. so just take a look what goes through there. liquified natural gas, huge product that comes out of the country of qatar. oil products imports, exports. not only impacts the united states but very much asian countries. japan gets 3/4 of all her fuel and resources from this region. china 50% of all her resources. so our job here is just make sure that stays open. we do have resources to do that. we go through the strait of hormuz not necessarily looking but making sure we're continuing to move back and forth and everybody has freedom of navigation through that route. >> you mentioned how much oil and liquified natural gas and fuel, asia gets through the straight. some made the argument they should be the ones out here patrolling. how do you feel about that? >> we have the resources to do it. it is a global economy. it is not just about our navy. you heard this line saying we're a global force for good. it isn't just for the united states. it is for the world. ad
. mixed bag on the housing front. the commerce department reported median home prices are at highest level since 2007. august's 17% year-over-year leap is the biggest for the howing market since september of 2004. however new home sales did slide. worries of global growth in europe sent oil prices tumbling 1 1/2% settling below $90 for the first time in august. just as the president of iran wraps up his visit to the u.n. here in new york, a new investigation reveals that the largest oil trading firm in the world is buying and selling iranian oil practically at will. what about the sanctions imposed by both the u.s. and the european union? are they worth the paper they're even written on? i'm joined by stuart holiday, former ambassador to the u.n. and president and ceo of meridian international center. thank you so much for joining us, ambassador. we appreciate it. >> thank you. melissa: this story is really amazing. there were a bunch of fantastic reporters over at reuters who dug this up and they were able to track this oil that was sold by iran to vitale, which is a swiss company. they d
's 20 years ago. 20 years ago. last year, just last year the u.s. chamber of commerce, 20 years later, came out with another study. this is the u.s. chamber of commerce. this is not the social scientists. these are hardheaded business people. what did they say in the u.s. chamber of commerce report? we've got to put more money spew preschoo -- moremoney into pres. well, we at the federal level have been doing that through a program called head start, and we've had head start, i think if i'm not mistaken, since about 1968. high-quality early childhood education has been proven to save taxpayer dollars in the long run by reducing the costs for welfare, special education, and, might i add, criminal justice. read that -- jail time. one of the highest correlative -- in fact, if i'm not mistaken, the highest correlative factor for people who are incarcerated in our prisons is the lack of a high school education. urn the romney-ryan budget, up to 200,000 low-income children and their families could lose access to head start, again, in fiscal year 2014. i'm not talking about over the next ten
association of manufacturers park chamber of commerce or state associations to get people, businesses concerned about this that have been benefiting from these tax incentives, and would see them come off. that is the debate he will see with any tax break coming off this. >> do you think you can go back to the chart that showed the scenarios? it is a complicated chart. the markets in areas. the one with all of the dots. as someone who covers congress and overseas our congressional coverage, i always think of the worst case scenario. congress either doing nothing or kicking the can down the road or doing some version of a -- economic decision with a box. coming up about that scenario? depending on the outcome of the election. there is a lot of scenarios. if we have a status quo election, obama wins, almost an equally divided republican senate and democratic house. then there's the of republican washington scenario. i did not think there is an all democratic washington scenario right now. what is possible versus what -- in the lame duck and then into generic -- january and how do the mar
chamber of commerce. >> thank you so much for that warm introduction. and congratulations to christina as well. thank you. good to be here. i have a son here. hi, guys. it is an honor to be your guest and speak to you as we begin national hispanic heritage month. i am pleased to represent the party of governor susana martinez and marco rubio and ted cruz. these leaders are republicans for the same reasons as millions of other hispanics. they see ours is the party of opportunity, the party that will restore america's prosperity. at our convention, governor martinez described that experience that is so familiar. at the beginning of her career she was a democrat, and she got an invitation to go to lunch with a couple of republicans. the words "democrat" and "republican" did not come up. they talked about issues, such as how to keep welfare from becoming a burden to work. she said, "i'll be darned, we are republicans." i like to hear stories like that. i am convinced the republican party is the right home of hispanic americans, but my speech today is not about my party. it is about the cou
. but they are outliers. they represent a fading order. the new model is to allow a controlled space for free commerce, for open education, even for dissent. perhaps people in these countries can use that space to slowly expand the realm of freedom and liberty. we'll be right back. >>> all the traditional stem fields, the science, technology, engineering, and math field are stoked when you dream big in an agency such as nasa. it's not that much money. right now it's a half a penny on your tax dollar. i say double it to a penny. that could be a question of blood flow. cialis tadalafil for daily use helps you be ready anytime the moment's right. you can be more confident in your ability to be ready. and the same cialis is the only daily ed tablet approved to treat ed and symptoms of bph, like needing to go frequently or urgently. tell your doctor about all your medical conditions and medications, and ask if your heart is healthy enough for sexual activity. do not take cialis if you take nitrates for chest pain, as this may cause an unsafe drop in blood pressure. do not drink alcohol in excess with ciali
filed last week hit the lowest level in two months. but the commerce department revised its estimate of second quarter economic growth from 1.7% down to 1.3%. the economic numbers were fodder for republican presidential nominee mitt romney. at a campaign stop in springfield, virginia he said the slow growth was proof that president obama's economic policies have not worked. >> if you don't believe me why look at the price of gas and the jobs in your community and the members of your family that are struggling for good work. if you don't believe me look at the numbers that just came out in the growth of our economy. 1.3% versus russia at 4%, china at 7-8%, we are at 1.3% this is unacceptable. it is not working. i know what it takes to get things working. >> sreenivasan: 200 miles away in virginia beach, president obama acknowledged the economy is still struggling. but he also promised the crowd he'll push for an era of what he called economic patriotism. >> during campaign season you always hear a lot about patriotism. well you know what? it's time for a new economic patriotism. an ec
50. democrat be hq's -- democratic hq's just across the highway. and the chamber of commerce sits between them. >> talk family, talk schools, friends. just don't talk politics. >> reporter: they subscribe to the same philosophy at the courthouse corner cafe. >> politics are kind of bad for business. >> reporter: but it doesn't always work. >> i think obama is evil. >> reporter: evil? >> evil. >> personally i prefer obama. >> reporter: romney actually has a long history of nasty skirmishes. back in the civil war, the town reputedly went back and forth between union and confederate forces, some 56 times. >> abraham lincoln turned in one vote in hampshire county. >> reporter: democrats still outnumber republicans by a wide margin. the town supports lots of democrats for state office, but not for president and not president obama. >> i had one man tell me that oh, he ended that war and now what are all the soldiers going to do when they come home? they won't have jobs. >> reporter: so many west virginians dislike president obama that a convicted felon almost won the democratic primary
of commerce, the department of education, energy, homeland security, and state combined. if interest rates were at their medium level that they were in the 1990s war in the first decade of this year, we would be sitting over $650 billion a year in interest alone. if we do nothing, we will be spending over $1 trillion that we will be spending every year before he we know it. and if you think about that, that is a trillion dollars that we can't use to build up a structure educator kids in this country so we can move our services and goods to the marketplace. it is a trillion dollars we can spend to perform research in this country so that the next new thing is created here. making that aa.com is the between dollars that will be spent, principally in foreign countries where we are borrowing the money from, to educate their kids. to build their infrastructure, and to do the odd research over there. i think that is crazy. this is not a problem that we can solely grow our way out of. it's not a problem that we can tax our way out of. it's certainly not a problem that we can cut our way out of wi
think about the e-commerce experience right now? it doesn't seem like you're spending a lot of must be on advertising online right now on that issue. >> we spend about 0.0000, which having the phenomenal 90% growth that we have on e-commerce, i think speaks for itself and it's driven by product. it's driven by a relationship in the stores and the guests really seeking us out, and so it's all organic growth. >> is that something that changes over time? >> i think you never say never. i think what we always look for is a real true authentic connection with the guests and that we've really earned it rather than that we've bought it, and that's been our philosophy all along, and the guest have resonated with that because they're always in choice about choosing our product and our job is to keep it the best product ever and be in an authentic relationship with the guests and we've built the brand on that and continue to see that as our strength. >> christine, thank you very much for joining us today. pleasure talking to you. >> pleasure, thank you. >> thank you. >> they make boxers? >> y
to those reforms. we know that american businesses are faced with an unbelievably complicated and commerce and tax code, combined over 30% on businesses. not to mention the problems with the estate taxes. it makes the u.s. as the second highest corporate tax rate among developed nations in the world. and so the u.s. federal rate is 35%. it's nearly 10 percentage points higher than other -- our other competitors. so that on top of all of the other issues that we've highlighted, where in order to create -- know, i mentioned the manufacturing jobs. i don't know about you but i get this question all the time, where have all the manufacturing jobs gone. and people always highlight that we've just chased these jobs offshore and it's because we have created this environment in which business owners don't have a choice. if they're going to turn a profit they have to do what is the benefit for their families and to make that hard-earned llar. i remember hearing a colleague give an example, he was sitting on an airplane next to a guy that made things. he made things, he produced a product and he wan
of these issues. but the absolute core issue is bankers are meant to help service commerce, not be a barrier that gets in the way. >> reporter: so this commission will be looking at regulation and potential policy changes around uk banking. they'll report back with proposed legislation, coming into christmas. december 18th is when they're expected to report. lots more evidence expected to be reported. >> thank you so much. james ferguson is still with us. there's so much going on with the uk. what is interesting is we're trying to -- the uk is setting up its own regulations, whether we're heading into direct conflict with the what the eu might be proposing because they're going to rip up the eba and have extended powers over uk banks, whether we're heading for a collision here. >> if europe's problem is that everyone has the same policy but all have different fiscal policies, different tax rates, we've got the same issue potentially brug here with banking.ewing here with banking. if they have to be bailed out by the taxpayers, which tax pay sne ers? maybe we should make the decision whether
and they would be sing examining dancing if they had been as hoe as they are in inverted commerce. we caught up with some very academic important men in german, the academic mentor, and asked him some of these questions. for example, what the esm should look like and what the ecb could or could not do. here's what he had to say. >> the problem is that a change, the old friend of policymaking because up until now it was forbidden -- it was a rule not to buy bonds and you understand when they started in 2010 is, well, we have to buy some bonds simply to keep the market floating, to keep them flexible. but meanwhile, it's clear, this is not the idea. so, now the idea is simply to support governments. >> one of the problems of massive bond buying programs is that it knocks the whole market system out of sync, so to speak. it's much easier for governments to buy bonds. this is what the professor also warned about. >> the banks are really financing the governments at this time. and you see there is also specialty because if a bank gives a loan to a private company, then they have to have capital. if
for the trade and commerce. they're vital to lifting people from poverty. twhil the war in iraq is over, nearly 70,000 american troops will still remain in affection at the end of the month. our goal is to complete a successful transition to afghan security forces by the end of 2014. we should evaluate conditions on the ground and solicit the best advice of our military commanders. we can all agree that our men and women in the field serve a clear mission, that they deserve the resources and resolute leadership they need to complete that mission and that they deserve a country that will provide for their needs when they come home. >> candidate mitt romney speaking in reno, nevada. and taking a somewhat subdued track on politics out of respect for the day, a day which we all remember well. moving on. taking a look at september 11th. copd makes it hard to breathe, but with advair, i'm breathing better. so now i can be in the scene. advair is clinically proven to help significantly improve lung function. unlike most copd medications, advair contains both an anti-inflammatory and a long-acting bron
and commerce bank are named. >> is the british public ready to sell their stake to a chinese company? i don't know. we're open for business, you but we need to see the profit on the table. >> the world's top designers have been showcasing their latest collections in london. i went down to check out the shows and find out just what the forecast is for the luxury market. asked vivian westwood where she sees pockets of growth. >> at the moment, it's in china. if you didn't have the chinese buying things, then the fashion business would be completely on the floor. it won't migrate to africa, you know. it's just not going to happen. by then, we'll be frying by then in this climate change. we've got to do things in between. if we do things in between, i don't know where we'll be in the future. but i have far too much product. the nation of the fashion business is that in order to support the nucleus of what you do, there are so many spinoffs that you have to have because it has to be subsidized by these spinoffs. what i do would lose money if it didn't up the spinoffs. i don't know. it's just a w
agree on the idea of a serious commerce asian centered on this document. since i mentioned amendments, i don't make too many predictions but i will say that most of the amendments, as a practical matter, have the support of both parties because it's hard to get two-thirds, two-thirds-3/4 without both parties being on board. the great amendments of the 1960's for example, the great iconic statutes of the 1960's and the civil rights acts of civic -- civil rights act of 64 and the voting rights act of 65 in a fair housing act of 68. republicans and democrats in the spirit that you're calling for and one of her thought since we are talking about our sponsoring institutions for this really extraordinary conversation, and that is the national archives. i think that the framers of the constitution who would amending their regime, they studied the state constitution and they saw which ones work and didn't. massachusetts put his concentration to a vote so let's put our constitution to a vote. most of the constitutions have three branches of government. let's go at that. most of them have bicamera
, location services and commerce game. they're bringing proprietary app. that is big thing. lori: android razr, iphone 5 next week. is the market shaking up little bit for these smartphones? is apple, can the lumina product be an iphone killer, if you will or will we see the pie split up into more even pieces? >> i think it will work more like the xbox than a real home run. what i mean by that, they stuck with it, kept delivering, innovated over time to become a competitive product. i think that is what will happen here. but the market is pretty much consolidating. i don't think there is a lot of room for a lot of new entrants coming in. if you're not in the market by 2013 and not established it will be difficult. lori: you're still on board with microsoft entering into the mobile device marketplace. this strategy of hosting this event today, so apple-like . what do you think of that strategy? high security. ballmer make as surprise appearance. trying to be wannabes to apple, right. >> right. i don't know if it is wannabes, what the market responds to. the market responds to flash, it res
law, a death nail for state businesses, that according to the california chamber of commerce urging governor jerry brown to halt the start of the new cap-and-trade program on november 14th, a billion dollars from businesses will be levied # according to the california air resources board. october 1st, if you stop in a san fransisco grocery store, be prepared for byob, bring your own bag. in an attempt to bring the environment together, you bring your own bag, or you're charged 10 cents. the cost of treating the scorpion bite in arizona is cheaper. hospitals lowers costs up to 80% for the anti-venom treatment after a woman was charged $83,000 for one doze. it's produced in mexico, sells for $100 a dose there, but $83,000 in arizona. that is your west coast minute. dennis? >> thank you, cheryl. there's a chill in the air, and i'm not talking about the first day of fall, tomorrow, but it's the upcoming third quarter earnings season that could give wall street a shiver. cheryl: moms bombarded for ads by diapers, formula, and toys, but now there's an adult friendly product on the demogra
for the company? is this the reaping for all of the things they have sown over the past few years? >> e-commerce is only 20% and amazon is forward position for that. i think it is early as far as retailers are concerned and i think the heavy investments over the past two, three years, you're starting to reap the benefits of that. you're seeing that in the financial results more so in the top line but i think you will see that in the back half of 2013 when you start to see margin expansion. >> are your target is 400. >> it is 400. >> and, aaron, do you feel the same way? >> we have a market perform right now. we do like the fundamental outlook for amazon although it is currently 70 times or 2013 earnings and we think it is pricey a lot of the positives at these levels so we would wait for a lower entry point. >> valuation a concern at all. >> right now the stock is trading 26 times cash multiple and grows loes to 40% so trading at diskupter free cash flow growth so not a concern for me. i think amazon is in the position as i said in terms of e-commerce. you have seen it being transformational and
definitely have some growth on the ground side which is typically driven by consumer activity around e-commerce so that is a secularly growing piece of their business. the manufacturing side when they preannounced early in september is really where they're citing most of the weakness and that impacts their express, which is kind of their higher revenue per piece move, higher margin moves in the air at least and that is part of the problem they're seeing, so it's a little bit of a two-fold situation with the consumer through e-commerce doing relatively well, the manufacturing side being softer, impacting express. >> we're trying to glean whether the economy itself, how much we can actually derive from what fedex is saying here about the overall economy, where kind of our theme today, we talked about the shock and awe from the fed, and whether ben bernanke and company actually knew something was worse than they thought or whether they're doing this because they have a dual mandate. do you think that the economy is worse than we think right now, christian, from fedex? >> sure i think from fedex as
by the fed, it's not commerce, it's not fiscal, is it keynesianism thinking that we can just do this and solve everything by throwing money at it or is it not? >> that is very interesting. i've never thought of it in terms of keynesianism versus nonkeynesianism. trichet calls them nonstandard measures. in the world of central banking, when you don't have -- when you have a fiat currency, this is considered to be class ib centrclass being central banking. it is the core discussion of our time in terms of the economic staft the world. >> the people that hate keynesian inch haism hate this,e might be something to it. the austrian school, those guys are -- the ones that are alive are rolling the eyes and the ones dead are rolling in their grave, i think. >> i would say this, that most of the people who hate keynesianism would also like to see tax cuts and ultimately those two things are about -- are similar in that they're just trying to inject more money into the economy. does the government spend the money or do you cut taxes and give it more to people for them to spend the money.
of commerce, the department of education, energy, home lan security, interior, justice and state combined. and if interest rates were at their median level they were in the 1990s or in the first decade of this year, we'd be spending over $650 billion a year on interest alone. and if we do nothing, we'll be spending over a trillion dollars on interest every year before you know it. and if you think about that, that's a trillion dollars we can't spend to educate our kids or to build infrastructure in this country so we can move our services and goods to the marketplace. and it's a trillion dollars we can't spend to perform research in this country so the next new thing is created here and making that doubly bad is that's a trillion dollars that will be spent principally in foreign countries where we're borrowing most of this money from to educate their kids, to build their infrastructure and to do the high value-added research over there so the jobs of the future are there, not here. i think that is crazy. and, look, this is not a problem that we can slowly grow our way out of, it's not a p
enjoy. new signs the housing market is recovering, and in about 30 minutes the u.s. commerce department releases new numbers for august home sales. analysts are expecting sales to increase by 380,000 homes. that's up from july when sales increased by 372,000 homes. so should we all be dancing in the streets? our business guru christine romans is here to tell us. hi, kristine. >> good morning, carol. so nice to put one or two or three months of good housing news back to back and report it to you. at 10:00 we'll get the new home sales, and you just give the forecasts. why new home sales are so important because a new house means construction workers, it means people pouring concrete, truck drivers. it means people making the windows and the material to go into it, and then it means couches and carpeting and all of the things that come with buying the furnishings for a new home. so every new home is a little economic driver incredibly important. existing homes, the used homes we buy and sell, that's the bulk of all home sales, those have been showing signs of life, too, carol. for three mo
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